Your answer is partially correct. Blossom Company had the following assets on January 1, 2022 Useful Life (in years) Item Cost Salvage Value Machinery $ 58,000 10 $0 Purchase Date Jan 1, 2012 Jan 1, 2019 Jan 1, 2017 Forklift 17,000 5 0 Truck 23,400 8 3,000 During 2022, each of the assets was removed from service. The machinery was retired on January 1. The forklift was sold on June 30 for $ 10700 The truck was discarded on December 31. Journalize all entries required on the above dates, including entries to update depreciation, where applicable, on disposed assets. The company uses straight-line depreciation. All depreciation was up to date as of December 31, 2021. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Debit Credit Date Account Titles and Explanation Jan 1 Accumulated Depreciation Equipment 69000 69000 Equipment June 30 Cach 2800 Accumulated Depreciation Equipment 2800 (To record depreciation expense on forklift) June 30 Cash 11800 Accumulated Depreciation Equipment 19600 Equipment 28000 Gain on Disposal of Plant Assets 3400 (To record sale of forklift) Dec 31 Depreciation Expense 3925 Dec 31 Depreciation Expense 3925 Accumulated Depreciation Equipment 3925 (To record depreciation expense on truck) Dec 31 Accumulated Depreciation Equipment 23550 Loss on Disposal of Plant Assets 10850 Equipment 34400